Africa Investment

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JOHANNESBURG - China has been Africa's No. 1 investor for years and its newly affluent could soon follow by sending large flows of cash into the quickly emerging continent looking for better returns than in Asia.

NAIROBI - Ivory Coast's Laurent Gbagbo has no business clinging onto power after losing elections and the time for outside military intervention has come, Kenyan Prime Minister Raila Odinga said on Thursday.

JOHANNESBURG - The Johannesburg Stock Exchange, Africa's biggest bourse, is likely to see a capital alliance or merger with a big overseas exchange eventually, although not in the immediate future, the head of the JSE Ltd said on Thursday.

JOHANNESBURG - Political turmoil sweeping through North Africa is likely to mean more investment scrutiny for countries across the continent, although many south of the Sahara are likely to pass the test comfortably.

JOHANNESBURG - Emerging markets investment bank Renaissance Capital aims to expand its African presence with a move into Egypt soon, possibly through an acquisition, its head for the region said on Thursday.

JOHANNESBURG - The Johannesburg Stock Exchange has warned companies to tighten procedures around announcing results after Reuters reported FirstRand results a day early when they appeared on a publicly available page on the banking group's website.

LAGOS - Nigeria's stock exchange plans to create an index for fixed income securities by the end of the second quarter and plans to widen trading hours to attract more U.S. investors, its interim chief executive said on Thursday.

NAIROBI/LAGOS - Africa's middle classes are growing, providing the backbone of an economic revolution that is attracting billions of dollars of foreign capital and changing the face of the poorest continent.

JOHANNESBURG - Africa-focused private equity firm Kingdom Zephyr plans to invest about $300 million over the next three years by taking minority stakes in six or seven companies across the continent, its managing partner said.